(a) The following entities are exempt from reporting property under this article: (1) Electric cooperatives organized under Chapters 6 and 7 of Title 37.
(2) Incorporated municipalities and incorporated municipal boards and county and county boards of this state. (b) The following property is exempt from reporting under this article: (1) A gift certificate, gift card, or in-store merchandise credit issued or maintained by any person engaged primarily in the business of selling tangible personal property at retail. (2) Property held, due, and owing in a foreign country and arising out of a foreign transaction. (3) Unclaimed funds held pursuant to Section 19-3-87.
History: (Act 2004-440, p. 755, §1; Act 2023-102, §1.)